India's Circular Economy: A $2 Trillion Opportunity by 2050

India's circular economy is poised to generate a market value exceeding USD 2 trillion and create 10 million jobs by 2050, according to G20 Sherpa Amitabh Kant. This transition can drive growth and decouple economic expansion from resource extraction, addressing sustainability challenges due to rapid urbanization and industrialization.

India's move towards a circular economy could substantiate a market value of over USD 2 trillion, while providing employment for 10 million people by 2050, asserted the country's G20 Sherpa, Amitabh Kant, on Monday.

Speaking at an event, Kant emphasized how the circular economy can fuel growth, offering India not only cost savings but also a competitive edge in the burgeoning global circular market. 'By 2050, this could be a massive opportunity,' he remarked.

Currently, with India's economy valued at USD 3.7 trillion, Kant highlighted the unsustainable depletion of natural resources spurred by rapid industrialization and urbanization. He warned that without adopting sustainable practices, quality of life in India could deteriorate. The circular economy, he explained, is essential to maintaining resources for longer, thus unlocking their maximum potential and nurturing natural systems.

(With inputs from agencies.)